Norman A Barkeley

Ducommun Inc., a money-losing aerospace contractor, said Wednesday that it plans to sell unused real estate in Texas, Oklahoma and California to raise much needed cash. Norman A. Barkeley, Ducommun's chairman and chief executive, told shareholders at the company's annual meeting in Long Beach that he is not sure how much Ducommun would receive from the property sales. He said the proceeds would be used to reduce the Carson-based firm's $67.9-million debt. Besides selling the property, Ducommun is also negotiating to sell its Tri-Tec Engineering unit, a maker of cable assemblies for the computer industry.

Ducommun Inc., a money-losing aerospace contractor, said Wednesday that it plans to sell unused real estate in Texas, Oklahoma and California to raise much needed cash. Norman A. Barkeley, Ducommun's chairman and chief executive, told shareholders at the company's annual meeting in Long Beach that he is not sure how much Ducommun would receive from the property sales. He said the proceeds would be used to reduce the Carson-based firm's $67.9-million debt. Besides selling the property, Ducommun is also negotiating to sell its Tri-Tec Engineering unit, a maker of cable assemblies for the computer industry.

Mercury Air Group of Los Angeles appointed John M. Condie controller for the aviation support and cargo company. . . . Ducommun of Carson, an aerospace and telecommunications manufacturer, promoted its president and chief operating officer, Joseph C. Berenato, to chief executive and added him to the board of directors, replacing Norman A. Barkeley, who will retain his position as chairman. . . . Aphton of Woodland Hills elected William A.

Robert T. Campion, 65, the longtime chairman and chief executive of Lear Siegler, will retire Aug. 15 and be replaced by current president Norman A. Barkeley, the company announced Friday. Campion became chief executive of the Santa Monica-based firm in 1971, when revenue was in the $500-million range, and became chairman in 1974. Last year, sales totaled $2.4 billion from its broad range of aerospace, automotive and industrial products.

Ducommun President and Chief Executive Norman A. Barkeley has been elected chairman of the troubled aerospace firm. Barkeley succeeds Wallace W. Booth, 66, the firm's longtime chairman. Booth joined Ducommun as chief executive in 1977, and became chairman a year later. He remains on Ducommun's board. Barkeley, 58, joined Ducommun last July as Booth's heir apparent, following two presidents who left the firm in rapid succession.

Lear Siegler Chairman Norman A. Barkeley indicated for the first time Tuesday that others besides AFG Partners "have expressed interest in acquiring the company" and said he is willing to meet with the potential buyers. He would not elaborate on the statement, and there was no indication of the identity of the others expressing interest in buying the aerospace and manufacturing conglomerate based in Santa Monica.

Ducommun--the oldest continuously operated company in Southern California--on Tuesday appointed its third president in as many years. Norman A. Barkeley, 58, the former chairman of Lear Siegler Inc. and currently a Ducommun board member, will become president of the aerospace and electronics firm effective July 1. Barkeley replaces Wallace W. Booth, who will remain as the company's chairman. "Barkeley is a seasoned veteran of the aerospace industry," Booth said in a prepared statement.

During the last two months, Lear Siegler has been in the throes of restructuring plans and takeover reports. Here is a chronology of events, ending with Wednesday's announcement of the sale of the company: Oct. 23. Lear Siegler announces plans to restructure; says it knows of no takeover threat. Oct. 29. Lear Siegler discloses that AFG Partners has acquired more than 5% of its stock. Oct. 30. AFG Partners makes $85-a-share, or $1.5 billion, offer for Lear Siegler. Nov. 5.

Once-ailing Ducommun, a Carson-based aerospace supplier and one of California's oldest companies, which spent most of the late 1980s losing money, apparently has turned things around, according to an earnings report issued Thursday. During the first full year since Chairman Norman A. Barkeley stepped into the cockpit at Ducommun, the company posted net income of $602,000, contrasted with a loss of $19.4 million in 1988. Sales rose to $68.6 million in 1989 from $59.8 million the year before.

Ducommun Inc., mired in losses for the last four years, earned $360,000 in its first quarter largely from sharp cost reductions and increased orders for aircraft parts. The aerospace company, based in Carson, said sales rose 4% to $16.5 million for the first quarter from $15.7 million during the first three months of 1988. Ducommun lost $1 million during the same quarter of last year. Ducommun's first-quarter costs were more than $800,000 less than in the first quarter a year ago, said Chief Financial Officer Donald R. Schort, resulting from work force reductions and reduced overhead.